Compliance Auditing & Self-Inspection Flashcards

During a self-inspection, an FFL discovers that 12 bound book entries lack the required acquisition date. What is the most appropriate immediate corrective action?

Answer: Annotate each entry with the correct date and initial/date the correction

Bound book corrections must be made by lining through the error, entering correct information, and initialing and dating the correction — never erasing or obliterating.

What is the maximum number of days an FFL licensed as a dealer (Type 01) has to record an acquisition in the bound book after receiving a firearm?

Answer: 1 business day

Dealers must record firearm acquisitions in the A&D record no later than the close of business on the day of acquisition.

Which ATF form must a licensed dealer obtain and retain when transferring a firearm to another FFL?

Answer: A copy of the transferee's FFL

When transferring a firearm to another FFL, the transferor must obtain and retain a copy of the transferee's federal firearms license.

An ATF Industry Operations Inspector (IOI) arrives at a licensed premises for a compliance inspection. The licensee's employee is present but the owner is unavailable. What should occur?

Answer: The employee may allow the inspection to proceed if they have authority to act for the licensee

An authorized representative of the FFL may consent to and participate in an ATF compliance inspection when the licensee is unavailable.

A self-inspection reveals a firearm in inventory that does not appear in the acquisition records. What is the first step the FFL should take?

Answer: Research the firearm's origin to determine how it was acquired

The FFL should investigate the source of the unrecorded firearm before taking any other action, then record it and report if appropriate.

Under 27 CFR 478.125, how long must a licensed dealer retain completed ATF Forms 4473?

Answer: 20 years from the date of transfer

FFLs must retain completed Forms 4473 for at least 20 years from the date of the recorded firearm transfer.

Which of the following inventory discrepancies would most likely trigger an ATF referral for further investigation during a compliance inspection?

Answer: A pattern of multiple missing handguns with no corresponding disposition records

A pattern of missing handguns without disposition records suggests potential trafficking or theft and would prompt ATF to escalate beyond a routine compliance review.